Abu Dhabi-headquartered investment firm Chimera Capital has joined global alternative asset manager Alpha Wave in leading a $10 billion tech fund, Arab News reports citing Bloomberg.
The fund, Bloomberg notes, will have a global remit but with a concentration on India and will focus on private firms across a wide array of sectors including artificial intelligence, financial technology, and life sciences.
Both partners, the media also notes, will work hand in hand to pinpoint and run potential management opportunities in the South Asian country.
The agreement for the partnership is in line with the Gulf’s growing role as a major channel of capital for international firms such as SoftBank Group Corp. and Silver Lake.
The Gulf region has hit a record year for tech investments with an accumulated balance of $621 billion dispersed worldwide.
Abu Dhabi-based Chimera Capital partners with Alpha Wave to lead $10bn tech fund
